NightHawk's Scorpius BioManufacturing Subsidiary Awarded Multimillion- Dollar Contract with a Publicly Traded Biotech Company to Support its Phase 2 Clinical Program
DURHAM, N.C., Jan. 25, 2024 (GLOBE NEWSWIRE) -- NightHawk Biosciences (NYSE:NHWK) ("NightHawk" or the "Company"), an integrated contract development and manufacturing organization (CDMO), today announced its Scorpius BioManufacturing subsidiary has been awarded a multimillion-dollar contract to provide process development, analytical, and cGMP manufacturing services for a publicly traded biotech company's Phase 2 clinical program.
Jeff Wolf, CEO of NightHawk Biosciences, commented, "We are proud to have been selected to help advance this potentially lifesaving therapy through the clinic. Scorpius has multiple clients with Orphan Drug Designations from the FDA, and our San Antonio facility is especially well-suited to advance these important programs. This new client, needing biologic manufacturing for a Phase 2 clinical program under cGMP guidelines, will benefit from Scorpius' comprehensive services in process development, bioanalysis, and manufacturing. The client, transitioning from a large CDMO, chose Scorpius to assist in this Phase 2 program based on our adaptability, dedicated service, and commitment to meeting project timelines. The scope of work, which includes producing a monoclonal antibody (mAb) in Scorpius' mammalian facility, is expected to be completed in 2024. We are extremely pleased with the success and traction Scorpius gained in 2023, our first full year in operation, and we are excited to see this momentum continue as we witness rising demand for our mammalian and microbial biomanufacturing services."
NightHawk Biosciences, Inc.
NightHawk Biosciences, through its Scorpius BioManufacturing subsidiary, is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit: www.nighthawkbio.com or www.scorpiusbiologics.com, and also follow us on Twitter.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as advancing the potentially lifesaving therapy through the clinic, the San Antonio facility being especially well-suited to advance programs with Orphan Drug Designations from the FDA, the scope of work being completed in 2024 and seeing the momentum continue as demand rises for Scorpius' mammalian and microbial biomanufacturing services. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to complete the work as planned, the Company's ability to generate future revenue from manufacturing contracts, the Company's ability to continue to grow revenue, leverage fixed costs and achieve long-term profitability,; the Company's ability to create substantial shareholder value as a pure-play CDMO in an underserved marketplace, the Company's financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the ability to obtain regulatory approval or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company's ability to successfully promote its services and compete as a pure- play CDMO, and other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2022, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
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